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Turnover dropped nearly 15% to 拢101.9m in 2012.
The bottom line was a pre-tax loss of 拢12.2m, which follows a 拢3.9m loss in 2011.
The loss included a 拢4.5m exceptional charge for the introduction of a new Microsoft Dynamics AX enterprise resource planning system, which is expected to save the business more than 拢2m a year.
"Despite a decline in hire revenues year on year, mainly from the construction sector, Hewden grew market shares in other sectors it operates in," the board said.
Hewden was a publicly-quoted company until 2001 when Caterpillar dealer Finning bought it for 拢322m. In 2010, having lost 拢40m on it in the previous two years, Finning sold Hewden to venture capitalists Sun European Partners for 拢110m. Hewden鈥檚 tool hire, tower cranes and hoist division had already been divested in previous years.
Since then, Hewden has been rationalising its Cat-heavy fleet, reducing it from 35,000 items to 25,000, and standardising over core machines.
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